Payable-on-Death (POD) Designation

You fill out a simple form at your bank naming one or more beneficiaries. While you are alive, the beneficiary has no access to the account. When you pass away, the named person brings a death certificate to the bank and claims the funds. No court involvement. No waiting.

A POD designation avoids probate, but it offers no control over how the money is used after the transfer. The beneficiary receives the full balance outright with no conditions. A revocable living trust can hold conditions on distributions, protect assets from creditors, and manage funds for minor children or beneficiaries who need financial guidance.

POD designations work well for straightforward situations. If you want a specific person to receive a checking or savings account without conditions, a POD is simple and effective. For larger accounts or more complex family situations, a trust provides more flexibility and protection. Many Arizona families use POD designations alongside a trust as part of a complete estate plan.